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Bulls Celebrate March ’09 Bottom

Since last the March 1, FTD the market and a batch of leading stocks steadily rallied. The fact that we have not seen any serious distribution days since the FTD bodes well for this nascent rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to start buying high quality breakouts. Trade accordingly.

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Adam Sarhan March 9, 2010

1 Year Anniversary From The ’09 Lows

Looking at the market, since last Monday’s follow-through day (FTD), the market and a batch of leading stocks, steadily rallied which is a healthy sign. The fact that we have not seen any serious distribution days show up since Monday’s FTD bodes well for this nascent rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to start buying high quality breakouts. Trade accordingly.

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Adam Sarhan March 8, 2010

Healthy Economic Data Helps Stocks

Looking at the market, the latest rally attempt was confirmed when a “cautious follow-through day” was produced by the Nasdaq Composite on Monday, March 1. Weighing into the decision to label the day a follow-through-day (FTD) was the strong action in leading stocks along with a great expansion noted in the new highs list. That action suggests that there is a healthy crop of strong stocks capable of fueling a substantial rally higher for the major averages. We will be looking out for any near-term distribution days (high volume declines) which would hurt the chances for this nascent rally. Until then, the bulls deserve the bullish benefit of the doubt as the major averages continue edging higher.

It is a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to start buying high quality breakouts. Trade accordingly.

Read More »
Adam Sarhan March 3, 2010

Cautious Follow-Through Day Confirms New Rally

Cautious Follow-Through Day Confirms New Rally.Looking at the market, Monday, Day 16 of the latest rally attempt, confirmed the latest rally attempt when a “cautious follow-through day” was produced by the Nasdaq composite. This means that we will now be looking for any distribution days (high volume declines) to emerge to gauge the strength of this nascent rally. So far, it is a much welcomed sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed the window is now open to start buying high quality breakouts. Trade accordingly.

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Adam Sarhan March 2, 2010

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